BETA and the ATO’s Behavioural Insights Unit worked together to contribute behavioural insights to the design process for the YourSuper Comparison Tool. We conducted 2 survey experiments and a survey with over 2000 respondents.
Trial start and end date
Online experiments - 7 January 2021 to 14 January 2021.
Ethics approval
Macquarie University’s Human Research Ethics Committee (reference number 52020944424157)
Keywords
superannuation, retirement, comparison tool, savings
Experimental design including randomisation
Online experiments – Both experiments were randomised trials with three arms (three treatment arms, but no formal control group). Each experiment had its own separate randomisation. We randomised at the individual level using the tool within the Qualtrics platform, with a one-third probability of assignment to each experimental arm. In experiment 1, participants viewed varying mock-ups of a results table from the comparison tool and were asked to select a fund. In experiment 2, participants were asked to consider a scenario with the language used to describe the risk/reward trade-off varying by treatment arm.
Outcome(s)
Primary and secondary outcomes – various. See the pre-analysis plan for more details
Expected sample size
We expected a total sample for the online experiments of around 2000. This equates to around 667 per treatment group.